Webster Financial sets $40 mln credit loss provision

GregMorcroft

NEW YORK (MarketWatch) -- Webster Financial Corp [s:wbs] said Tuesday it is taking a $40 million special credit loss provision for discontinued indirect residential construction and home equity loan portfolios. It also unveiled another $22.4 million of various pre-tax charges. Webster said it is the discontinued portfolios total about $424 million, and reserves for them are now at $49.9 million.

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